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Chase Ink Business Preferred℠ Credit Card: Is It The Best Business Credit Card?

Chase Ink Business Preferred℠ Credit Card: Is It The Best Business Credit Card?

An excellent business credit card, with one of the best sign-up bonuses around.

Good for

  • Businesses with a lot of travel, shipping and advertising expenses
  • Business owners looking for a card with a high sign-up bonus

Bad for

  • Companies with low annual expenses

Editor's Rating

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5.0/5.0

Editorial Note: The editorial content on this page is not provided or commissioned by any financial institution. Any opinions, analyses, reviews, statements or recommendations expressed in this article are those of the author's alone, and may not have been reviewed, approved or otherwise endorsed by any of these entities prior to publication. This site may be compensated through a credit card partnership.

The Ink Business Preferred℠ Credit Card is a fantastic new business credit card, especially useful for business with a lot of travel, advertising, and shipping expenses. It comes with a $95 annual fee, so take some time to decide whether you can get enough out of it to cover that charge. However, given the extremely lucrative sign-up bonus (worth roughly $1,000), that should be easy enough to achieve.

Good For..Bad For..
Businesses with a lot of travel, shipping and advertising expensesCompanies with low annual expenses
Business owners looking for a card with a high sign-up bonus

Review: Our Thoughts On the Ink Business Preferred℠ Credit Card

The newly released Ink Business Preferred℠ Credit Card is one of the best business credit cards, thanks to a fantastic sign-up bonus and solid rewards on travel, shipping, internet, and advertising purchases made with social media sites and search engines. The card comes with a 3.75% rewards rate in these categories, on the first $150,000 spent in combined purchases each account anniversary year. This is significantly higher than what you can currently get with some other small business credit cards, like the Capital One® Spark® Cash Select for Business. All other purchases result in an unlimited 1.25% rewards rate.

The estimate above is based on the average small business expenditures data from Shoeboxed.com

The Ink Business Preferred℠ Credit Card comes with one of the highest bonuses of any business credit card. Users earn 80,000 bonus points after spending $5,000 on purchases in the first 3 months after account opening. That is worth approximately $1,000 toward travel rewards when redeemed through the Chase Ultimate Rewards portal.

Note that there is a $95 annual fee on the Ink Business Preferred℠ Credit Card. That means you must make sure you can get enough out of the card to cover that expense. If you qualify for the welcome bonus, it’s enough to cover your annual fee for well over 10 years. However, you should always weigh the opportunity cost of your card choice. You could always apply for a business credit card with no annual fee and a moderate sign-up bonus. Depending on how your company’s expenses and financials work, the no fee option may be significantly better or worse. You can use our business card comparison tool to figure out which would be better for your company, based on its expenditures.

Bottom Line: The Ink Business Preferred℠ Credit Card is a fantastic business credit card, with one of the best early spend bonuses available. Companies spend a lot on travel, shipping, internet, cable, and phone services and social media/search engine advertising should definitely consider applying. If you prefer getting a card with no annual fee, there are other options to consider.

Ink Business Preferred℠ Credit Card Benefits & Features

The Ink Business Preferred℠ Credit Card gives cardholders 3x points on the first $150,000 combined spending on travel, shipping, advertising through search engines and social media sites, and internet/cable/phone services. All purchases that fall outside of this range will earn consumers just 1 point per dollar spent. We value a single Ultimate Rewards (UR) point at roughly $0.0125. Therefore, our estimated return for this card is between 3.75% and 1.25%. The points have the potential to be even more valuable, if you transfer them over to one of the UR transfer patterns.

On Chase's Secure Website

Ink Business Preferred℠ Credit Card

On Chase's Secure Website
80,000 bonus points after you spend $5,000 on purchases in the first 3 months after account opening
  • Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®
  • Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year
  • Earn 1 point per $1 on all other purchases–with no limit to the amount you can earn
  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
  • Redeem points for travel, cash back, gift cards and more – your points don't expire as long as your account is open
  • No foreign transaction fees
  • Employee cards at no additional cost
  • $95 Annual Fee
  • Earn 80,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®
  • Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year
  • Earn 1 point per $1 on all other purchases–with no limit to the amount you can earn
  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
  • Redeem points for travel, cash back, gift cards and more – your points don't expire as long as your account is open
  • No foreign transaction fees
  • Employee cards at no additional cost
  • $95 Annual Fee
Annual Fee
$95
Regular APR
18.24% - 23.24% Variable
Credit Needed
{"onCurrent":true,"message":"There are various types of credit scores. Each creditor uses a variety of different types of credit scores to make lending decisions."}
Excellent Credit
Editor's Rating
{"onCurrent":true,"message":"Our team rates credit cards objectively based on independent research, the features the credit card offers users, and how it compares with other available cards in its category. The ratings are the opinion of our editors, and are not influenced by any outside factors, including any compensation the site may receive from certain advertisers."}

The card also awards 80,000 bonus points to any business that manages to spend at least $5,000 on purchases in the first 3 months. This is worth roughly $1,000, as long as you redeem your points as travel through the Ultimate Rewards portal. Note that only purchases will be counted towards this bonus. Things like cash advances and balance transfers will not help you meet the $5,000 requirement.

How Does the Ink Business Preferred℠ Credit Card Compare to Other Business Credit Cards?

The best way to get an idea of Ink Business Preferred℠ Credit Card’s value is to compare it against other available options. We took a look at the leading business credit cards and contrasted them with the Ink Business Preferred℠ Credit Card.

Ink Business Preferred℠ Credit Card vs Ink Plus® Business Credit Card

Ink Plus® Business Credit Card
This card is not available through ValuePenguin.
Ink Plus® Business Credit Card
This card is not available through ValuePenguin.

The Ink Business Preferred℠ Credit Card replaced the Ink Plus® Business Credit Card, and it was mostly an improvement over the old offer. Business with more traditional expenses, like office supply purchases at shops like Office Depot, got more out of the Ink Plus® Business Credit Card’s rewards structure. This card offered 5x points per $1 on the first $50,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV services each account anniversary year. Beyond that, you also got 2x points per $1 on the first $50,000 spent in combined purchases at gas stations and hotel accommodations when purchased directly with the hotel – also capped each year. The only Chase business card that most closely resembled that offer is the Ink Business Cash℠ Credit Card, which we go over below. It is currently not clear whether current Ink Plus® Business Credit Card will have their cards changed to the Ink Business Preferred℠ Credit Card. Both cards have an ongoing annual fee of $95.

The information related to the Ink Plus® Business Credit Card has been collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication.

Ink Business Preferred℠ Credit Card vs Ink Business Cash℠ Credit Card

The Ink Business Cash℠ Credit Card gives users 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable services each account anniversary year. Additionally, it also awards 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each year. While these limits are significantly lower than what we see on the Ink Business Preferred℠ Credit Card, you need to consider where your business spends the most money. If you end up buying a ton of stationery products from stores like Office Depot, this card will be significantly better than the Ink Business Preferred℠ Credit Card.

The Ink Business Cash℠ Credit Card doesn’t charge any annual fee, which can be good or bad, depending on what you need. Having no annual fee means you never have to worry about this card being a net loss in terms of rewards. Any year you don’t earn at least $95 in rewards using the Ink Business Preferred℠ Credit Card, the card is actually financially detrimental to your business. However, at the same time, the points you earn with the Ink Business Cash℠ Credit Card cannot be transferred to travel partners. Therefore, you may not get as much utility out of them, as you would with the Ink Business Preferred℠ Credit Card. Having an annual fee also gives you the opportunity to earn a better bonus. The Ink Business Cash℠ Credit Card $500 bonus cash back after you spend $3,000 on purchases in the first 3 months after account opening.

If you find aspects of each of these cards appealing, considering applying for both. Since the Ink Business Cash℠ Credit Card has no annual fee, it won’t burn a hole in your wallet. Furthermore, you can combine the reward points from both cards, since they both earn Ultimate Rewards. This card combo is actually high recommended, as it allows you to optimize your rewards. Use the Ink Business Cash℠ Credit Card at office supply stores, gas stations, and restaurants and the Ink Business Preferred℠ Credit Card on everything else.

Ink Business Preferred℠ Credit Card vs SimplyCash® Plus Business Credit Card from American Express

The SimplyCash® Plus Business Credit Card from American Express is like a hybrid between the Ink Business Preferred℠ Credit Card and the Ink Business Cash℠ Credit Card. The SimplyCash® Plus Business Credit Card from American Express gives 5% cash back at U.S. office supply stores and on wireless telephone services purchased directly from U.S. service providers and comes with no annual fee. Additionally, it also 3% cash back on the category of your choice from a list of eight:

  • U.S. gas stations
  • U.S. restaurants
  • U.S. purchases for advertising in select media
  • U.S. purchases for shipping
  • Airfare purchased directly from airlines
  • Hotel rooms purchased directly from hotels
  • Car rentals purchased from select car rental companies
  • U.S. computer hardware, software, and cloud computing purchases made directly from select providers

The 5% and 3% apply to the first $50,000 in purchases per calendar year, then 1% applies thereafter. If your company's expenses fall below that $50k limit, the SimplyCash® Plus Business Credit Card from American Express will likely be the better of the two options.

For rates and fees of the SimplyCash® Plus Business Credit Card from American Express, please click here.

Compare the Ink Business Preferred℠ Credit Card Based On Your Company’s Expenses

You can use the tool below to help estimate the rewards the Ink Business Preferred℠ Credit Card will get your business. At the same time, this will compare your options against some other leading business credit cards. Simply click the gear icon below and enter your company’s estimated monthly expenditures.

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Comments and Questions

These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

Info about the following cards: American Express® Gold Card, Delta Reserve® Credit Card from American Express, Hilton Honors Surpass® Credit Card, American Express® Blue Sky, American Express® Green Card, The Amex EveryDay® Preferred Credit Card from American Express, The Plenti® Credit Card from Amex, Blue from American Express®, Platinum Card® from American Express Exclusively for Mercedes-Benz, Bluebird, Centurion® Card from American Express, Hilton Honors American Express Aspire Card, and Starwood Preferred Guest® American Express Luxury Card has been collected independently by ValuePenguin. The issuer did not provide the details, nor is it responsible for their accuracy.

Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). ValuePenguin does not include all financial institutions or all products offered available in the marketplace.

How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).